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Mar 30, 2012
03/12
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the broader market as the supreme court hears arguments about the health care law. aetna all outperforming. reports that mastercard and visa are part of a major security breach. on that note, let's get to mary thompson who has details on that. carol? >> mastercard says importantly that its own systems have not been breached. rather, reportedly, this came from a third party payment processor so the breach has been able to access information on the mastercard accounts. another report says that visas customer accounts may be compromised as well. i made calls to mastercard and visa, haven't heard back from them. also put out calls to major banks, jp more gun and city bank as well. it could affect up to ten million cards. again, mastercard saying that their own cards haven't been compromised, that the breach came from a third-party payment processor. >>> as americans catch mega millions fever, gary kominski has experience advising people. >> you want to know why i have no experience winning the lottery? because i never played tu but i did buy tickets today. >> these are
the broader market as the supreme court hears arguments about the health care law. aetna all outperforming. reports that mastercard and visa are part of a major security breach. on that note, let's get to mary thompson who has details on that. carol? >> mastercard says importantly that its own systems have not been breached. rather, reportedly, this came from a third party payment processor so the breach has been able to access information on the mastercard accounts. another report says...
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Jun 13, 2012
06/12
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al law. always somebody on the committee. someone on the committee that always kind of helps it all. makes it so that it's not so bad. >> he doesn't lack for confidence. i look forward to watching. >> i'm serious about this. because the shareholders have paid. these guys -- i'm sorry. you say i'm sorry, do you feel bad? is it like a crisis of confidence? is there some sort of -- do you have -- is this an existential moment for jamie dimon? >> you're like ali mcgraw. banking means you never have to say you're sorry? >> you say you're sorry. still get paid a lot of money. everyone else in america says i got to get that job. that job's a good job. i can screw up. hold billions of shareholders' pay. i make my money. what a super job. i want that job. i want that job. >> you got a pretty good one yourself. >> not bad. >>> want to move on here. we have some very exciting news on the home front this morning. cnbc, the world leader in business news is forming a strategic alliance with yahoo! finance, the leading online destination fo
al law. always somebody on the committee. someone on the committee that always kind of helps it all. makes it so that it's not so bad. >> he doesn't lack for confidence. i look forward to watching. >> i'm serious about this. because the shareholders have paid. these guys -- i'm sorry. you say i'm sorry, do you feel bad? is it like a crisis of confidence? is there some sort of -- do you have -- is this an existential moment for jamie dimon? >> you're like ali mcgraw. banking...
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Sep 21, 2012
09/12
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because it's generous, as we would say in law school. there's nothing like it. nothing like it. >> all right. well, let's talk to broader markets here. apple would be part of the broader markets. but the market overall is continuing its winning streak, up eight days in a row, looking to make it nine for nine today. it is also quadruple witching day with future expiring on the same day. quadruple witching day occurs four times a year and historically september's day has been positive for the markets with the s&p 500 closing higher 75% of the time over the past 12 years. so not a bad stat here. it does help that we have this positive apple bid to the market, apple, of course, being a huge component of the market. >> and remember, every friday we come in and say this will be the weekend that the chinese act. so we've got a -- the shorter have to cover, the long say china is going to do something dramatic and then you come in monday and china did nothing. >> and then you have dalio talking to sorkin, a fascinating series of interviews where he says china gdp is in t
because it's generous, as we would say in law school. there's nothing like it. nothing like it. >> all right. well, let's talk to broader markets here. apple would be part of the broader markets. but the market overall is continuing its winning streak, up eight days in a row, looking to make it nine for nine today. it is also quadruple witching day with future expiring on the same day. quadruple witching day occurs four times a year and historically september's day has been positive for...
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Nov 8, 2012
11/12
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. >> sounds like a large part of your argument is it's been long enough to have these laws not tied down, and not pinned down and not written, write? that's the problem. >> i say no more excuses. let's get on with it. it's been two years for dodd-frank and if you're regulators and let's get the laws written and eliminate some of the uncertainy and if you're the banks no more excuses also. at some point you have to play the ball where it lies and so it would be nice to get back to the business of banking because where we've come from is we're in a situation like japan and the real question is how much longer will we be like japan and what's worse than japan is the degree to uncertainty and look at this one example. the volcker rule was implemented to make banks safer and standard & poor's indicated they might downgrade the bank due to the volcker rule. nobody wanted that scenario. if they wanted to make it safer, let's make it safer and get it done. >> has political risk to the sector increased after tuesday night, yes or no? >> no. >> no one's been a bigger critic of the external risk to
. >> sounds like a large part of your argument is it's been long enough to have these laws not tied down, and not pinned down and not written, write? that's the problem. >> i say no more excuses. let's get on with it. it's been two years for dodd-frank and if you're regulators and let's get the laws written and eliminate some of the uncertainy and if you're the banks no more excuses also. at some point you have to play the ball where it lies and so it would be nice to get back to...
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Dec 31, 2012
12/12
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i asked folks on twitter for new laws they would like to see. this is one i'm talking about from @duck42l. mandatory jail time for creating new reality shows. from @macdsurry we haver. 20 to life for people that go to sub shops and go all deer-in highlights when asked what fixins they want on sub. and @guyadami says nba players should not be allowed by law to slap teammates hand. and finally, @osubmeyr says, congress works for free in 2013 since we paid them to do nothing in 2012. i think that would get 100% of the vote. >> good luck getting that through congress. jane, happy new year to you. jane wells in los angeles. >>> tweet time. the phrase that got the most nomination this is year on lake superior's list to banish fiscal cliff. what other phrases should be banned? tweet us @squawkstreet and we'll get your responses after the break. but she's still going to give me a heart attack. that's health in numbers. unitedhealthcare. >>> time for squawk on the tweet. the phrase of fiscal cliff is on the list of words to be banished. we have asked you
i asked folks on twitter for new laws they would like to see. this is one i'm talking about from @duck42l. mandatory jail time for creating new reality shows. from @macdsurry we haver. 20 to life for people that go to sub shops and go all deer-in highlights when asked what fixins they want on sub. and @guyadami says nba players should not be allowed by law to slap teammates hand. and finally, @osubmeyr says, congress works for free in 2013 since we paid them to do nothing in 2012. i think that...
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Dec 6, 2012
12/12
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richard schimel is the e ex-brother in law. lock capital management. two of those had already closed. level global has closed, in fact one of us founders, andrew chasen is on trial right now. diamondback went down to about $2 billion, but as of this morning, that is no long ter case. the hedge fund saying that given redemption requests came in about 26% of total asset ors $520 million. it would be left with $1.45 billion apparently that's just not enough to run the successful hedge fund. they did have 140 or so people working for them. not sure how much they have trended that. as of now, their seven-year track record at this point. but they have spending redemptions as you might expect. rushing all of the assets to fund holders. often times in these cases, you'll see people run out and look at 13, and say oh, what are they going to be selling? but they have already sold a lot in anticipation. so don't look for any ability there to kind of drive them even further down, because oftentimes they will sell their biggest positions. nonetheless, another large
richard schimel is the e ex-brother in law. lock capital management. two of those had already closed. level global has closed, in fact one of us founders, andrew chasen is on trial right now. diamondback went down to about $2 billion, but as of this morning, that is no long ter case. the hedge fund saying that given redemption requests came in about 26% of total asset ors $520 million. it would be left with $1.45 billion apparently that's just not enough to run the successful hedge fund. they...
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Apr 17, 2012
04/12
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third, congress should give the agency responsible for overseeing law markets, new authority to protect against volatility and excess speculation by making sure that traders can post appropriate margins, which simply means they actually have the money to make good on their trades. congress should do all of this right away. you know, a few weeks ago if congress had the chance to stand up for families already paying an extra premium at the pump, congressional republicans voted to keep spending billions of americans' hard-earned tax dollars on more unnecessary subsidies for big oil companies. so here's a chance to make amends. a chance to protect consumers based on oversight of energy markets. that should be something that everybody, no matter their party, should agree with. and i'm hoping members of congress will ask their parties to stand up. in the meanwhile, we'll take better steps to analyze trading activity in energy markets and quickly eliminate the consumer protections under wall street reform. let me close by saying none of these steps by themselves will bring gas prices down over
third, congress should give the agency responsible for overseeing law markets, new authority to protect against volatility and excess speculation by making sure that traders can post appropriate margins, which simply means they actually have the money to make good on their trades. congress should do all of this right away. you know, a few weeks ago if congress had the chance to stand up for families already paying an extra premium at the pump, congressional republicans voted to keep spending...
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Nov 13, 2012
11/12
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car fleet simply because the laws of supply and demand won't support it. if that much natural gas were being used, if we used 15% of the cars fueled on the road for natural gas, we would use 10% to 15% of today's production of natural gas. the price would then go up. if the price went up on natural gas, it would go down on oil because the demand dropped and then the fuels would have a comparative disadvantage. i think it's more of a specialized product as a relates to transportation fuels. the electricity, conversion of electricity generation from coal to natural gas has been stunning. this year alone over last year, about a 19% pickup in natural gas demand generating electricity. the market share of coal has gone from almost 50% to down in the 30% range which is a stunning reversal to do in one to one and a half years. >> the numbers are incredible. do you believe coal is on decline as a use of fuel in this country? >> i do in fact because of the costs. the costs to mine coal are higher than to produce natural gas. the market is an amazing thing. the mark
car fleet simply because the laws of supply and demand won't support it. if that much natural gas were being used, if we used 15% of the cars fueled on the road for natural gas, we would use 10% to 15% of today's production of natural gas. the price would then go up. if the price went up on natural gas, it would go down on oil because the demand dropped and then the fuels would have a comparative disadvantage. i think it's more of a specialized product as a relates to transportation fuels. the...
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Nov 27, 2012
11/12
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from here is going out into the national governments and with the eu and getting some changes in the law that will allow for direct debt forgiveness. that's the problem. they can't do that. it's illegal right now. that's what you'll see. this was a big deal. the first step along the way to forgiving all of that greek debt. they're not going to repay the money. it's just going to go away over many, many years. let's move on and talk -- i'm telling you, it's a big deal on greece today. great news out of case-shiller. you want year over year changes. year over year up 3.6%. all right. it's not titanic. we had a big drop. it's continually moving in the right direction. home metricks moving in the right direction. you made a big deal over las vegas sands that came out yesterday. i added some of these up. certainly nice that it's happening. it's not amounting to a lot. there's not that many companies out there doing it. to me more important is getting a company to move dividend payments from january into december. even there a few companies are doing it. january of this year i checked on this
from here is going out into the national governments and with the eu and getting some changes in the law that will allow for direct debt forgiveness. that's the problem. they can't do that. it's illegal right now. that's what you'll see. this was a big deal. the first step along the way to forgiving all of that greek debt. they're not going to repay the money. it's just going to go away over many, many years. let's move on and talk -- i'm telling you, it's a big deal on greece today. great news...
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Jun 15, 2012
06/12
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that's sufficient under the law to win a conviction for the government. here, of course, they had far more evidence, not only of friendship but deep financial relationships between the two parties. so that really was not much of a hurdle, in my view, for the prosecutor in this case. >> bertha? >> indeed, carl. that is one of the issues yesterday when they asked about conspiracy, the judge said that it didn't -- the conspiracy didn't need to work. the overt act didn't need to be successful, necessarily, for their to be a conspiracy. when they asked for clarification. that is, indeed, one of the charges on which they have found mr. gupta guilty along with three of the securities fraud charges. an interesting thing about this case, i was talking to a reporter with the indian media. there is tremendous interest in this case in india. you have to remember mr. gupta came to this country, had been orphaned as a young boy. he worked his way up, got an education, worked his way up to the top of the ranks at mckenzie. after that he was very much a corporate shaman
that's sufficient under the law to win a conviction for the government. here, of course, they had far more evidence, not only of friendship but deep financial relationships between the two parties. so that really was not much of a hurdle, in my view, for the prosecutor in this case. >> bertha? >> indeed, carl. that is one of the issues yesterday when they asked about conspiracy, the judge said that it didn't -- the conspiracy didn't need to work. the overt act didn't need to be...
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Jun 28, 2012
06/12
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as was the rest of the law. as was the rest of the law, which is majority supported by most -- >> so you're looking glass half full, and i'm looking glass half empty. >> i think it's unfair to say that american was looking in total. there were elements that a lot of people supported. >> the question was were they willing to tolerate a very unpopular part of it which today was upheld? >> but republicans still have to come to the table and express what that solution is. that may not be popular either. >>> the u.s. supreme court has upheld the health care mandate. upheld as a power of congress to tax those who do not get insurance. justice roberts joins the left of the court. justice kennedy joins the dissenters. a big victory for the president as well, who gets to keep the law, his signature policy achievement. risks now being labeled as a tax and spender as taxes may become the focal point of the debate. we'll talk more about that in a minute. >> we want to bring if jim cramer, who joins us again on the phone. ji
as was the rest of the law. as was the rest of the law, which is majority supported by most -- >> so you're looking glass half full, and i'm looking glass half empty. >> i think it's unfair to say that american was looking in total. there were elements that a lot of people supported. >> the question was were they willing to tolerate a very unpopular part of it which today was upheld? >> but republicans still have to come to the table and express what that solution is....
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Dec 5, 2012
12/12
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as i said, there's been a coordinated crackdown around the world of anti-bribery law in the u.k. and a big run in russia. corruption is everywhere. >> why isn't the united states further up the ranking? >> part of the problem and united states is always ranked around this area below top 10%. what they say is a lot of it has to do with just corruption not being enough of a priority. they say that the financial crisis changed some of that and people are starting to pay attention and citing a poll that 80% of americans believe that the financial crisis was the result of some public corruption. so it's more in the consciousness there and that affects the perception. it still has a long way to go. >> fascinating. thanks very much. >>> still ahead this morning, we've seen a wide range of companies unloading special dividends this quarter. have the nonissuing companies now made the wrong move. we'll take a deeper dive into that and talk about names that have yet to declare one and what it means for them ahead of the fiscal cliff. try running four.ning a restaurant is hard, fortunately w
as i said, there's been a coordinated crackdown around the world of anti-bribery law in the u.k. and a big run in russia. corruption is everywhere. >> why isn't the united states further up the ranking? >> part of the problem and united states is always ranked around this area below top 10%. what they say is a lot of it has to do with just corruption not being enough of a priority. they say that the financial crisis changed some of that and people are starting to pay attention and...
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Sep 11, 2012
09/12
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two sides of the law. >> because he didn't -- that's right. the same federal government that put brad birkenfeld in jail for 31 months is now about to hand him a check for $104 million. and the irony is palpable here. birkenfeld not able to attend the press conference because he's on probation and home confinement. >> thank you. >>> well, waves of sale hitting high in retail after burberry warned the full year profit will come in lower than expected. cnbc's robert frank has got the details. robert. >> thanks, melissa. well, i've been warning of a luxury slowdown throughout the summer. and the reason is one word, that's china. the chinese wealthy, they've filled the gap in the last three years that was left by the americans and the europeans. china is now the world's second largest luxury market behind japan, spending $12 million a year on luxury. that may be slipping. those high rollers aren't rolling like they used to. we started to see it in the spring where we had disappointing wine auctions that sprung to different ticket auctions. sales f
two sides of the law. >> because he didn't -- that's right. the same federal government that put brad birkenfeld in jail for 31 months is now about to hand him a check for $104 million. and the irony is palpable here. birkenfeld not able to attend the press conference because he's on probation and home confinement. >> thank you. >>> well, waves of sale hitting high in retail after burberry warned the full year profit will come in lower than expected. cnbc's robert frank has...
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Sep 26, 2012
09/12
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scott writes my mother-in-law. parker writes my smartphone is more valuable than gold because it keeps me connected with my kids and under hill writes more valuable than a time machine because my iphone 5 map app is prehistoric. let's get to headquarters, michelle, and the fast money halftime. >>> welcome to the halftime report. i am michelle cabrera in for scott walker. four hours to go until the close. here is where we stand, negative territory not as bad as europe, though. the dow lower by 15 points, 13,442, the s&p lower by 6 points, almost half a percent and nasdaq by 25. >>> earnings over hang, why earnings season could be a real buzz kill for the bulls. we'll talk about that and the short story on home builders, investors increasingly betting
scott writes my mother-in-law. parker writes my smartphone is more valuable than gold because it keeps me connected with my kids and under hill writes more valuable than a time machine because my iphone 5 map app is prehistoric. let's get to headquarters, michelle, and the fast money halftime. >>> welcome to the halftime report. i am michelle cabrera in for scott walker. four hours to go until the close. here is where we stand, negative territory not as bad as europe, though. the dow...
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Aug 10, 2012
08/12
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next up for him, he has a law degree from georgetown and an offer on the table from a large new york firm. our thoughts are with him. all the best, just to make it to these games, it's unbelievable. as one said the other day, it's one of the few things where you can be 12 best in the population of 6 billion and people think you're not that great. that's competition. sports. >>> coming up next, they are one of the most powerful families in sports. we're taking a look at the glazers, owners of manchester united. back after a quick break. it's something you're born with. and inspires the things you choose to do. you do what you do... because it matters. at hp we don't just believe in the power of technology. we believe in the power of people when technology works for you. to dream. to create. to work. if you're going to do something. make it matter. >>> we are still in the red, but we have managed to pare our losses. that happened on the nasdaq. we are seeing apple struggling to go into the green. it is in the green at this point and intel had been in the green as well. so there's a wil
next up for him, he has a law degree from georgetown and an offer on the table from a large new york firm. our thoughts are with him. all the best, just to make it to these games, it's unbelievable. as one said the other day, it's one of the few things where you can be 12 best in the population of 6 billion and people think you're not that great. that's competition. sports. >>> coming up next, they are one of the most powerful families in sports. we're taking a look at the glazers,...
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Dec 27, 2012
12/12
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the rule of law is not widespread enough in the continent. there is a glimmer of hope such as sun nish sha. countries such as egypt still questionable. we have seen mass rioting there and growing concerns whether the new rule of law and new constitution will effectively protect investors. >> just a few years ago, there were maybe 10 frontier emerging funds. now, there's more than 300. they're the hot thing. remember, even if there is growth there, very little liquidity. that's not a real place for mom and pop investors. that's still a white knuckle place even if there is growth. >> i'm looking at global industries 52 week highs, turkey, france, uk. lithuania, japan. can those do well? >> i think so. they're coming off their bottom. europe 20 through wh-- europe 2 what was our 2008. >> you think merkel gets re-elected? >> at this point. she seems to be doing okay. if merkel gets re-elected, she will be a major outlier. the general rule of thumb for almost all politician, you never survive a debt crisis. germany doesn't have a debt crisis, the
the rule of law is not widespread enough in the continent. there is a glimmer of hope such as sun nish sha. countries such as egypt still questionable. we have seen mass rioting there and growing concerns whether the new rule of law and new constitution will effectively protect investors. >> just a few years ago, there were maybe 10 frontier emerging funds. now, there's more than 300. they're the hot thing. remember, even if there is growth there, very little liquidity. that's not a real...
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Apr 30, 2012
04/12
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bribery law. in addition, in addition, there's a former news corp. subsidiary in russia called news outdoor russia that is being investigated by the fbi for whether they paid bribes to russian officials for the placement of billboards in russia. and finally, and this is also pretty significant, there is now an industry-wide inquiry by the securities and exchange commission and the justice department into hollywood firms that may have paid bribes to officials in china. twentieth century fox is one of the companies that's the focus of that investigation. so, what we have now is, essentially, a worldwide inquiry into the operations of news corp. by the u.s. department of justice. >> wow. someone who is not long news corp. may say they now have a two-front war here, michael. but more broadly, you look at walmart, the allegations there, avon. is it your sense that justice is turning up the heat or that behavior has just deteriorated around the globe? what do you think's behind the fact that so many alleged cases now are cropping up? >> well, look, the jus
bribery law. in addition, in addition, there's a former news corp. subsidiary in russia called news outdoor russia that is being investigated by the fbi for whether they paid bribes to russian officials for the placement of billboards in russia. and finally, and this is also pretty significant, there is now an industry-wide inquiry by the securities and exchange commission and the justice department into hollywood firms that may have paid bribes to officials in china. twentieth century fox is...
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Feb 28, 2012
02/12
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there's a law of diminishing returns. you could say the market has overestimated the degree to which the market has flown in down the ten-year end of the bond market. you're beginning to hear that sort of sound coming out. also the belief that you might have zombie banks being created in europe. we'll see, it's very much a play on the expectation. the bigger the expectation is 500 million euros. but for many houses that is now beginning to fall back slightly. >> yeah. the number -- 5:00 a.m. >> 5:00 a.m. >> you get up early. thank you very much, simon. rick santelli i believe has a guest out in chicago. >> absolutely. with all the news out there i wanted to talk to dan. first of all with regard to ireland. they have a history of drawing some concessions on some of these key votes. any thoughts on the at least preliminaries, as everybody tries to discuss what the fallout of this vote may or may not be? >> if they decide that they don't want to ratify this you've got some serious problems on that one. the odds are they prob
there's a law of diminishing returns. you could say the market has overestimated the degree to which the market has flown in down the ten-year end of the bond market. you're beginning to hear that sort of sound coming out. also the belief that you might have zombie banks being created in europe. we'll see, it's very much a play on the expectation. the bigger the expectation is 500 million euros. but for many houses that is now beginning to fall back slightly. >> yeah. the number -- 5:00...
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Jun 1, 2012
06/12
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what gives you predictability are rules, the rule of law or in general, things like, well, dodd frank, that's a rule. but dodd frank, health care, those programs came about at a time when we had crisis. now, when we had crisis, and anything could get done because people are nervous. the people that are being governed are nervous. they'll do anything. they worked on thing that is were indirectly, at best, tied to jobs. and once more, why do you think that none of the blanks were filled in on dot frank or health care? because while that window is open where the government can get away with anything, they wanted to put as much in there as possible because they are not going to get a chance again. it was all quite intentional. but in the end, if you want to create jobs, the reason congress is enactive, the labor secretary, action by congress, they took action. and what did they do? they mall managed, they took money, trillions of dollars. and the results are questionable, do they get a second chance? if you want more taxpayer money, prove that you are responsible in what you do with it. c
what gives you predictability are rules, the rule of law or in general, things like, well, dodd frank, that's a rule. but dodd frank, health care, those programs came about at a time when we had crisis. now, when we had crisis, and anything could get done because people are nervous. the people that are being governed are nervous. they'll do anything. they worked on thing that is were indirectly, at best, tied to jobs. and once more, why do you think that none of the blanks were filled in on dot...
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Aug 24, 2012
08/12
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it with you a huge law, it was very difficult to get through, and so i think it's unlikely -- >> even under republican administration. >> even under republican -- >> with regards to the fiscal cliff i don't think there is monetary policy powerful enough to prevent the u.s. from entering a recession in the first six months of next year if the fiscal cliff goes off. >> it is ridiculously fast. >> really? >> compared to the prior iterati iteration. >> more address on it? >> i haven't seen as many ads. about it being an incremental step toward mobile making these things -- >> that's the biggest problem for all these companies, how to monetize mobile. >> a crowded session at the big board, the opening bell. >> i just think that the market's a little bit ahead of itself. valuations aren't excessive but for us and what we're doing this is about where we ought to be at the end of the year, not in august. >> once you commit to the iphone you've got your photos in there, your music. with icloud, tethering you more tightly. the idea of switching a phone used to be when you switched a phone the w
it with you a huge law, it was very difficult to get through, and so i think it's unlikely -- >> even under republican administration. >> even under republican -- >> with regards to the fiscal cliff i don't think there is monetary policy powerful enough to prevent the u.s. from entering a recession in the first six months of next year if the fiscal cliff goes off. >> it is ridiculously fast. >> really? >> compared to the prior iterati iteration. >> more...
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Sep 17, 2012
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i think part of it is the law of large numbers, right? you know, as you continue to beat numbers, it gets tougher and tougher to grow at the same clip. decelerating growth rate's probably a piece of it. you know, aside from that, that's been one that we've struggled to answer for some time. >> but this thing's been cheap for $200, $300 now. if investors are as smart as they are, if the market as sufficient as it is, shouldn't the multiple be expanding by now? >> you would think. and particularly with the dividend yield and perhaps if they were to pay a greater dividend, maybe that would attract another cater of investors. i think a lot of it comes down to the fact that this is the consumer electronics industry. it's hyper competitive. at some point somebody's going to have a better widget. at some point, all good things don't continue for forever. >> all right, will, thanks for your time this morning, appreciate it. will power. we should apple shares ticking higher premarket. $698.46 right now. so that $700 mark pretty clearly within the
i think part of it is the law of large numbers, right? you know, as you continue to beat numbers, it gets tougher and tougher to grow at the same clip. decelerating growth rate's probably a piece of it. you know, aside from that, that's been one that we've struggled to answer for some time. >> but this thing's been cheap for $200, $300 now. if investors are as smart as they are, if the market as sufficient as it is, shouldn't the multiple be expanding by now? >> you would think. and...
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Oct 9, 2012
10/12
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. >> is there a china law in this country? a china lobby saying stay away from them because we need them so badly? >> i don't know. >> a lot of companies need to sell to china. the last thing they want to do, i don't think they want to hear about a trade war, given they own so many kentucky fried chickens in china. >> there's a trillion dollars in treasury bonds pretty strong lobbying. >> that's true. that's true. >> i think you're right. the main thing about china is it is more complicated that it seems. >> finally, a couple interesting notes on banks, david, the makenzie report saying the business model will provide sustainable profits and there's a poll of bankser who believe their numbers will get better, not worse. >> optimism never dies when it comes to people's pay. you look around them to see everything falling down but i was a star. i served to get paid well. we talked a lot about it. i think when you talk to the executives who run many of the global institutions, it is coming down in a true way. it's a seminole chang
. >> is there a china law in this country? a china lobby saying stay away from them because we need them so badly? >> i don't know. >> a lot of companies need to sell to china. the last thing they want to do, i don't think they want to hear about a trade war, given they own so many kentucky fried chickens in china. >> there's a trillion dollars in treasury bonds pretty strong lobbying. >> that's true. that's true. >> i think you're right. the main thing about...
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Jun 27, 2012
06/12
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largest hospital operator in germany trying to buy another hospital in germany and didn't laws. 90% of the stock tendered. looked like they were going that way and paulson in the name and look at what's happened. why? another company by the name of -- oh boy. sorry. i'll try it once. >> i had that for dinner the other night. they have -- >> good greek food. the point being, when there's not a lot of activity here, there's movement over there and so there's also pain here for those funds that actually are expecting that deal to get done. they're saying they're not going up in price. they need to amend the bylaws and doesn't appear the deal's going to happen and so, for example, the paulson funds. can't get a break. >> fernius is a good company. >> there's a look at john. one of the biggest deals by far period. also in trouble. glencore in trouble. there, big holder of xstrata saying we don't like the terms and you have that opposition, you have also got widespread opposition to the pay packages to come along with the deal were it to close and real questions about the deal and the glenco
largest hospital operator in germany trying to buy another hospital in germany and didn't laws. 90% of the stock tendered. looked like they were going that way and paulson in the name and look at what's happened. why? another company by the name of -- oh boy. sorry. i'll try it once. >> i had that for dinner the other night. they have -- >> good greek food. the point being, when there's not a lot of activity here, there's movement over there and so there's also pain here for those...
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Jun 29, 2012
06/12
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it is the law of the land. so let's make sure the law of the land is in everyone's best interest. >> why hold a vote that you know has no chance of repealing healthcare reform now? >> i think frankly it would be negligent if we didn't hold one. >> spending numbers, very close to expectations. goose egg, unchajed on spending. >> stocks said to open sharply after european leaders unexpect ily agree it take action to bring down italy and spain's borrowing cost. >> i think there is still opportunities for the company to extract value. we've said and still believe that company can't go it alone. it does need a strategic partner or strategic out for its ip. >> university of michigan sentiment survey for june, it's going to be kind of famous. but not in a good way. ity's the lowest level of the year. 73.2. >> you cannot do any half measures at this point. i think they are beginning to realize that. so yes, in many ways if bcb becomes unsupportive, that is unsupport any of that position. if that are rhett zen again, th
it is the law of the land. so let's make sure the law of the land is in everyone's best interest. >> why hold a vote that you know has no chance of repealing healthcare reform now? >> i think frankly it would be negligent if we didn't hold one. >> spending numbers, very close to expectations. goose egg, unchajed on spending. >> stocks said to open sharply after european leaders unexpect ily agree it take action to bring down italy and spain's borrowing cost. >> i...
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Jan 27, 2012
01/12
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in 2010 we had the remnants of the health law, the dodd-frank fight. we didn't see that much as last year and i don't think we'll see that much this year going into an election year. could be another sparse year for lobbyists in washington. >> it's i hard to lobby when it's almost a given legislation will be hard to pass. >> that's right. they are treading water. they don't like to do that. they like to have a major ball to push up that hill. >> i thought the economy might have had something to do with lobbying expenses being trimmed. paralysis is probably the bigger dynamic. >> the economy can go either way. if the economy is down, you can see an increase in lobbying activities if they think is there a way to generate profits here in washington. companies will spend money. if they don't think anything is going to happen, that's when you see the bills start to decline. >> i don't hear violins playing for those on k street. >>> officials are getting closer to reaching a deal for the greek debt. michelle, today they say they are close. >> pretty darn clo
in 2010 we had the remnants of the health law, the dodd-frank fight. we didn't see that much as last year and i don't think we'll see that much this year going into an election year. could be another sparse year for lobbyists in washington. >> it's i hard to lobby when it's almost a given legislation will be hard to pass. >> that's right. they are treading water. they don't like to do that. they like to have a major ball to push up that hill. >> i thought the economy might...
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Nov 26, 2012
11/12
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you get to debt exchanges such as what occurred with greece if this is the case and there can be case law said that you have to pay interest to those who didn't exchange, it may make those kind of exchanges far more difficult. >> i listened to your breaking story on friday. i said i don't understand the jurisdiction. how does a federal court tell argentina what to do? >> i think it also comes back to the payment bank of new york as the third party transferrer of funds from argentinean government forcing them to -- it's a good question. i can't say that i can absolutely answer it definitively for you. >> could the federal court order the deposition of the head of iraq? let's get him in here. let's depose him. >> there's some standing questions there. no question about that. >> i just find that argentina may be -- argentina is doing a lot of things behind the scenes with tariffs and very tough on american business people. are they going to say a federal court judge, they're going to hold us in contempt? what does he got? how many divisions does the federal court judge have? >> they can forc
you get to debt exchanges such as what occurred with greece if this is the case and there can be case law said that you have to pay interest to those who didn't exchange, it may make those kind of exchanges far more difficult. >> i listened to your breaking story on friday. i said i don't understand the jurisdiction. how does a federal court tell argentina what to do? >> i think it also comes back to the payment bank of new york as the third party transferrer of funds from...
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Apr 19, 2012
04/12
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under new york state law. >>> straight ahead facebook's next takeover target. find out which tech startup is the next big thing. back in just a moment. great shot. how did the nba become the hottest league on the planet? by building on the cisco intelligent network they're able to serve up live video, and instant replays, creating fans from berlin to beijing. what can we help you build? nice shot kid. the nba around the world built by the only company that could. cisco. i'm making my money do more. i'm consolidating my assets. i'm not paying hidden fees or high commissions. i'm making the most of my money. and seven-dollar trades are just the start. i'm with scottrade. i'm with scottrade. i'm with scottrade. and i'm loving every minute of it. [ rodger riney ] at scottrade, we give you commission-free etfs, no-fee iras and more. come see why more investors are saying... i'm with scottrade. a living, breathing intelligence teaching data how to do more for business. [ beeping ] in here, data knows what to do. because the network finds it and tailors it across all
under new york state law. >>> straight ahead facebook's next takeover target. find out which tech startup is the next big thing. back in just a moment. great shot. how did the nba become the hottest league on the planet? by building on the cisco intelligent network they're able to serve up live video, and instant replays, creating fans from berlin to beijing. what can we help you build? nice shot kid. the nba around the world built by the only company that could. cisco. i'm making my...
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Jul 30, 2012
07/12
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it's law that just makes sense. to experience the ultimate expression of power -- control. ♪ during the golden opportunity sales event, get great values on some of our newest models. this is the pursuit of perfection. tdd#: 1-800-345-2550 when the spx crossed above its 50 day moving average, tdd#: 1-800-345-2550 i saw the trend. tdd#: 1-800-345-2550 it looked really strong. tdd#: 1-800-345-2550 and i jumped right on it. tdd#: 1-800-345-2550 since i've switched to charles schwab... tdd#: 1-800-345-2550 ...i've been finding opportunities like this tdd#: 1-800-345-2550 a lot more easily. tdd#: 1-800-345-2550 like today, tdd#: 1-800-345-2550 i was using their streetsmart edge trading platform tdd#: 1-800-345-2550 and i saw a double bottom form. tdd#: 1-800-345-2550 so i called one of their trading specialists tdd#: 1-800-345-2550 and i bounced a few ideas off of him. tdd#: 1-800-345-2550 they're always there for me. tdd#: 1-800-345-2550 and i've got tools that let me customize my charts tdd#: 1-800-345-2550 and search
it's law that just makes sense. to experience the ultimate expression of power -- control. ♪ during the golden opportunity sales event, get great values on some of our newest models. this is the pursuit of perfection. tdd#: 1-800-345-2550 when the spx crossed above its 50 day moving average, tdd#: 1-800-345-2550 i saw the trend. tdd#: 1-800-345-2550 it looked really strong. tdd#: 1-800-345-2550 and i jumped right on it. tdd#: 1-800-345-2550 since i've switched to charles schwab... tdd#:...
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Aug 23, 2012
08/12
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it is harder to ignore it which you're doing with medical marijuana saying we're not enforcing the law. >> it could end up in the supreme court a lot like health care. let's be clear. lyle li legalizing is not a slam dunk. the long time governor not mincing his words. >> it is messy either way. the best way to reduce the mess is go back to the old days where we had 1700 people that grew it themselves or had a caregiver and didn't have a dispensary on every street corner. >> he is referencing 2009 when they expanded access to medical marijuana. obviously people are probably gaming the snl when it comes to medical marijuana. we visit add lot of dispensaries, and i can tell you this is really helping a lot of people, but if you fully legalize it, who knows? >> brian, as we look at the shot behind you, i mean, clearly these are businesses. real businesses. i wonder if you can just give us color on the sophistication of the people who are running these farms. >> well, listen, they're not non-profits. they're for profit. they're very organized. a lot of them have other businesses. they're en
it is harder to ignore it which you're doing with medical marijuana saying we're not enforcing the law. >> it could end up in the supreme court a lot like health care. let's be clear. lyle li legalizing is not a slam dunk. the long time governor not mincing his words. >> it is messy either way. the best way to reduce the mess is go back to the old days where we had 1700 people that grew it themselves or had a caregiver and didn't have a dispensary on every street corner. >> he...
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Dec 14, 2012
12/12
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i would also point out that the board has as well amended its buy laws to director nominations from the 22nd of february, to the 15th of march. >> that's interesting. >> and so let's say he makes a bid, it gets rejected, it would still allow schulze to potentially run a slate to compete to get board seats at best buy. a company which, by the way, he owns 20% of. that 20% stake has been falling in value, virtually every day, except for weird days like yesterday where it was up yesterday. >> good money after bad, my friend. good money after bad. >> more time and information, it seems like a $20 share bid is farther and farther away. >> one would imagine that would be the case, unless they had some sort of blowout christmas, or some sort of trajectory in sales, that is highly unexpected. the last word we got from the company is, hey, free cash flow is coming down. it still generates a good amount of cash. you have to think, maybe it's not completely inconceivable. there could be a bid. that's what private equity firms look like. when you watch that going this way, and if that continues, it
i would also point out that the board has as well amended its buy laws to director nominations from the 22nd of february, to the 15th of march. >> that's interesting. >> and so let's say he makes a bid, it gets rejected, it would still allow schulze to potentially run a slate to compete to get board seats at best buy. a company which, by the way, he owns 20% of. that 20% stake has been falling in value, virtually every day, except for weird days like yesterday where it was up...
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Nov 29, 2012
11/12
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. >> for the outfit that got hurt entry.ou did have to put in an >> not to mention a lot of law firms and things that were down here as well, had a lot of documents, old documents that were downstairs. >> we're still really figuring out what the impact of sandy was. >> a terrific article about stockton today, housing shortages happening in very strange areas, that was in bloomberg.com. the claims are still okay. they're not terrible. gdp was not bad. that's why again, if you settle the fiscal cliff, right now there's a combination of trying to pick up the pieces, which turn out to be harder and a sense of, well, wait a second, if you're a big company, why hire now if i'm going to have to fire later because of the cliff. >> in the premarket session, shares of tiffany taking a hit. the luxury goods taking a hit at 49 cents a share. also lowing it's full year forecast, with smaller than expected profit margins, it's a bad product mix in terms of higher priced items with lower margins. all of those things hitting them this morning. >> i really want to know, we have got two companies today
. >> for the outfit that got hurt entry.ou did have to put in an >> not to mention a lot of law firms and things that were down here as well, had a lot of documents, old documents that were downstairs. >> we're still really figuring out what the impact of sandy was. >> a terrific article about stockton today, housing shortages happening in very strange areas, that was in bloomberg.com. the claims are still okay. they're not terrible. gdp was not bad. that's why again, if...
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May 29, 2012
05/12
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why is it that possession nine-tenths of the law. you tell me that we could -- they should should have given that money back months and months ago. why is it still in contention? >> standard business practices in a bankruptcy or any kind of dispute is just grab as much money as they can and then make people sue them to get it back. so this $168 million was cash on hand. could have been returned months ago. and my sources tell me that they still have about $600 million in customer funds that were sent over from mf global to cover market costs. >> you're fairly optimistic. there's about $900 million left to make customers hole in the u.s. and between that $168 million and another $600 million you you believe in the uk we'll get, we're almost there, are we not? >> we're getting there. there's about 300 and if we can force jpmorgan to return the company, we can can 5at least ge u.s. customers whole. >> they're circulating a pace to get an i said council sell and doesn't smell right. how many of those signatures are democrats? >> zero dem
why is it that possession nine-tenths of the law. you tell me that we could -- they should should have given that money back months and months ago. why is it still in contention? >> standard business practices in a bankruptcy or any kind of dispute is just grab as much money as they can and then make people sue them to get it back. so this $168 million was cash on hand. could have been returned months ago. and my sources tell me that they still have about $600 million in customer funds...
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Feb 16, 2012
02/12
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. >> i would point out that people are starting at wage levels that are below law firms. it's the first time since the mid-'80s that this is happened. when kravath and davis poll were the places to work. i think that's a tough life, too. i do point out it is remarkable, remarkable moment where people would rather work at google or kravath than they would at goldman or morgan. >> send the responses along. meantime, on your mark, get set and go with cramer. his mad dash is ahead on the opening bell. that's next. >>> as we head to break, we'll take a look once again at u.s. futures. it has been a mixed bag. looks like we are strengthening a bit with the dow looking to open with a 14-point gain. with a new view of the market, you could see an investment opportunity you didn't see before. fidelity's next generation ipad app lets you see what's trending around the world, as well as what over a million fidelity customers are trading throughout the day. and advanced charting lets you customize your views and set up your own comparisons. our ipad app can help refine your strategy
. >> i would point out that people are starting at wage levels that are below law firms. it's the first time since the mid-'80s that this is happened. when kravath and davis poll were the places to work. i think that's a tough life, too. i do point out it is remarkable, remarkable moment where people would rather work at google or kravath than they would at goldman or morgan. >> send the responses along. meantime, on your mark, get set and go with cramer. his mad dash is ahead on...
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Feb 24, 2012
02/12
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us man tweets, my mother-in-law. i have a feeling we got a lot of those in-laws written in. jim tweets, a sumo wrestler. tom tweets, a tough choice but rush limbaugh. >> a little political there. >> let's turn it around. who would you want to sit next to, jim. >> who would i want to sit next to? listen, i'd like to sit next to -- >> dead or alive. >> obviously you go for lincoln, right. you never go wrong with lincoln. you know what i mean? >> that's true. >> jefferson. >> yeah. >> the dalai lama. he's always a good guy. i feel very in sync with dalai lama recently. ghandi. >> ghandi would be good. >> back and bigger than ever. >> that would be an interesting conversation. hope that'd be a long flight. >>> much more "squawk on the street" straight ahead. >>> still to come, we've got six reasons why to stay tuned. and they all revolve around jim cramer. six stocks in 60 seconds. when "squawk on the street" returns. [ male announcer ] we know you don't wait until the end of the quarter to think about your money... ♪ ...that right now, you want to know where you are, and wher
us man tweets, my mother-in-law. i have a feeling we got a lot of those in-laws written in. jim tweets, a sumo wrestler. tom tweets, a tough choice but rush limbaugh. >> a little political there. >> let's turn it around. who would you want to sit next to, jim. >> who would i want to sit next to? listen, i'd like to sit next to -- >> dead or alive. >> obviously you go for lincoln, right. you never go wrong with lincoln. you know what i mean? >> that's true....
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Dec 7, 2012
12/12
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will the federal government seek to block the new law? we'll answer that. >>> let's get breaking news here. hedge fund john paulson hedge fund manager having another tough year. official numbers for the month of november. >> so november proved to be another difficult month for john paulson. his advantage fund which employees strategies from each of his individual strategies was down about 3.6% making it down more than 17% year-to-date through the month of november. that means his advantage plus fund which is a more levered version of that is likely now down more than 20% year-to-date through november. also his gold fund, a very difficult november down about 9.5% in gold, which leave it is down close to 30% year-to-date again through november. this is a very disappointing performance on an absolute basis but also on a relative basis. if you look at hrfx which is a hedge fund put together, it's flat and up about .4% year-to-date. certainly not screaming good performance but certainly better than how paulson is doing. and then if you look at
will the federal government seek to block the new law? we'll answer that. >>> let's get breaking news here. hedge fund john paulson hedge fund manager having another tough year. official numbers for the month of november. >> so november proved to be another difficult month for john paulson. his advantage fund which employees strategies from each of his individual strategies was down about 3.6% making it down more than 17% year-to-date through the month of november. that means his...
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Feb 2, 2012
02/12
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one is the current law proposal which assumes for example that all the tax cuts are ended and that the doc fix is not adopted and so on. and then there was an alternative take thescenario -- >> we had testimony about both question. >> assumed all the tax cuts were extended and took the opposite approach. our numbers obviously are based on an intermediate level, assumes that some of these policies undertaken but not all of them and we try to make our best guess. but it's only staff guesses about what they think congress may do. and i don't think those forecasts -- the details of that are particularly helpful to you. you'll be trying to figure out what the right thing to do is. >> with regard to an issue we've discussed when you've been here on the committee before on whether the policies of the financial community concerning rewards and compensation for taking excessive risks rehe main a problem, you've issued a report in october dealing with that. it indicated there had been improvement, but among the largest banks, there continue to be a number of problems with regard to risk taking a
one is the current law proposal which assumes for example that all the tax cuts are ended and that the doc fix is not adopted and so on. and then there was an alternative take thescenario -- >> we had testimony about both question. >> assumed all the tax cuts were extended and took the opposite approach. our numbers obviously are based on an intermediate level, assumes that some of these policies undertaken but not all of them and we try to make our best guess. but it's only staff...
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Nov 14, 2012
11/12
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he loved belize because he felt there were no real laws is what he told me. and we'll see what the future holds for mr. mcafee. certainly a fascinating man. >> you're not making a call -- would you ever fear for your own safety when you were with him? >> no, i did not fear for my safety. i went up in one of those things, that was probably against cnbc policy. i did go up in one. that was great. he has a fleet of those trying to turn into a tourist attraction as well. when i did go to his home at night, it did have a james bond villain type of feel to it. he was playing the piano. it was dark. we came in by boat. i did feel as though, okay, this is interesting. >> entries in the shape of his head? >> there wasn't. the eerie piano playing was unsettling. >> you, of course, were james bond. more of a daniel craig. >> i'll take that. >> i think daniel craig is -- well, i'm a guy. he's the hottest guy in the world. >> don't do that. be nice to me. >> get away from me. >> when we come back, we'll cover the bases on the fiscal cliff including potential impact on hou
he loved belize because he felt there were no real laws is what he told me. and we'll see what the future holds for mr. mcafee. certainly a fascinating man. >> you're not making a call -- would you ever fear for your own safety when you were with him? >> no, i did not fear for my safety. i went up in one of those things, that was probably against cnbc policy. i did go up in one. that was great. he has a fleet of those trying to turn into a tourist attraction as well. when i did go...
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Aug 6, 2012
08/12
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they are operating one minnesota take over law which makes it complex. there's provisions in the bylaws that allow for only 25% of the shares to vote yes for a shareholder meeting. when you have schultze in there with 20% it won't take much if this goes down to a really hostile nature for them to call a special meeting of the board and toss the board of directors out. again, if it to were actually come to that. the hope, of course, on the part of schultze is they will say yes, can you form a group. key then move ahead and give us specific commitments from private equity firm or firms to show they have the equity check necessary and the $7 billion in financing necessary to make this deal a reality. interesting, guys, to note the stock is up certainly but well below the 24 to $26 range that's indicated and again it is a melting ice cube many would say and so even schultze talks about urgency in the letter itself meaning we got to get in there and got to get in there quickly. from what i've heard they were being told three weeks, another three weeks and the
they are operating one minnesota take over law which makes it complex. there's provisions in the bylaws that allow for only 25% of the shares to vote yes for a shareholder meeting. when you have schultze in there with 20% it won't take much if this goes down to a really hostile nature for them to call a special meeting of the board and toss the board of directors out. again, if it to were actually come to that. the hope, of course, on the part of schultze is they will say yes, can you form a...
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Jul 6, 2012
07/12
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>> you know, i think it's the law of dmining returns. eventually you're going to see less and less benefit to these ging things. the money is out there. it's a matter of getting the money to the people who could use it and who would spend it. the banks don't want to make those loans yet. >> bob, thanks so much. >>> one day after the ecb cut interest rates to record lows, more jitters surrounding the eu debt crisis, the yields on the spanish ten-year bond trading above levels not incidence seen since before last week's eu summit. christine lagarde saying the imf will lower its global growth forecast in ten days because of the problems in europe. she'd already taken down some of her numbers for the u.s. saying fiscal cliff and the eurozone. but the notion they would take down their numbers for the world at large, not a huge surprise at this point. >> the remarks from the finnish finance minister bears some examination. if we think about greece saying, we don't want to be part of this trade, finland's on the other side of the trade saying,
>> you know, i think it's the law of dmining returns. eventually you're going to see less and less benefit to these ging things. the money is out there. it's a matter of getting the money to the people who could use it and who would spend it. the banks don't want to make those loans yet. >> bob, thanks so much. >>> one day after the ecb cut interest rates to record lows, more jitters surrounding the eu debt crisis, the yields on the spanish ten-year bond trading above...
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Nov 7, 2012
11/12
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now we know they are going to stay law. that's it. it's over and done with that debate. you can make a decision one way or the other based on groups most affected by those laws which are coming into effect really in 2013 in their fullest way. positive or negative. >> we didn't know this time yesterday whether we would have hanging chad. i am old enough to say i covered the 1976 election. i had a headline that i wrote that says mississippi puts carter every the top. that's the stupid thing did you when you're young. you look back. 332 are going to go for obama. if ohio had closed at 7:00, virginia closed at 7:00 and we got instant tallies, you would have said what's on at 10:00? obama took it big. we lost indiana. that was a walkover. because of the way it's done, we sit there and we say oh, my. colorado. put him over the top. in 1976, i was such an idiot to write that headline about mississippi. i see other people following in my footsteps. >> the president did focus on really what the main economic issues in that brief clip that we had. tax reform. the budget deficit. i
now we know they are going to stay law. that's it. it's over and done with that debate. you can make a decision one way or the other based on groups most affected by those laws which are coming into effect really in 2013 in their fullest way. positive or negative. >> we didn't know this time yesterday whether we would have hanging chad. i am old enough to say i covered the 1976 election. i had a headline that i wrote that says mississippi puts carter every the top. that's the stupid thing...
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Dec 12, 2012
12/12
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we cover politics, sports, media, law. it's an exciting opportunity. >> kevin, we'll be watching you very closely. trust me. kevin ryan, thanks so much for cupping in. >>> a new survey out this hour shows the corporate leaders are pretty cautious about next year. we'll talk to the president of the business roundtable, john engler. and the right to work law in michigan. sfx- "sounds of african drum and flute" look who's back. again? it's embarrassing it's embarrassing! we can see you carl. we can totally see you. come on you're better than this...all that prowling around. yeah, you're the king of the jungle. have you thought about going vegan carl? hahaha!! you know folks who save hundreds of dollars by switching to geico sure are happy. how happy are they jimmy? happier than antelope with night-vision goggles. nice! get happy. get geico. fifteen minutes could save you fifteen percent or more. i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to ca
we cover politics, sports, media, law. it's an exciting opportunity. >> kevin, we'll be watching you very closely. trust me. kevin ryan, thanks so much for cupping in. >>> a new survey out this hour shows the corporate leaders are pretty cautious about next year. we'll talk to the president of the business roundtable, john engler. and the right to work law in michigan. sfx- "sounds of african drum and flute" look who's back. again? it's embarrassing it's embarrassing!...
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Aug 3, 2012
08/12
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we've got to deal with this health care issue, businesses are not hiring because the president's new law and it's going to be with us. i think its going to be a drag on the economy for quite some time. so i'm hopeful that we can work this out before the problem occurs. >> finally, you've been a critic of the fed for a while, congressman. and of course, a lot of the market action, the s&p is at the highest level since may, is arguably about anticipating further balance sheet expansion from the fed. is there room for them to do anything right now, to foster more employment? >> no, not that is effective. i think absent a collapse of the eurozone, absent a fiscal cliff, they've really done all that they can do. in fact too much on employment. i think extending the zero interest rate policy for another year does nothing. i think banks, if you lower the interest rate on excess reserves, banks still will not lend more because businesses aren't purchasing more. and then finally i think trying to lower the rates lower, long-term, because the fed bond purchases, that's not the problem. i really th
we've got to deal with this health care issue, businesses are not hiring because the president's new law and it's going to be with us. i think its going to be a drag on the economy for quite some time. so i'm hopeful that we can work this out before the problem occurs. >> finally, you've been a critic of the fed for a while, congressman. and of course, a lot of the market action, the s&p is at the highest level since may, is arguably about anticipating further balance sheet expansion...
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Apr 5, 2012
04/12
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and that's not what the laws are there to ensure against. with the winners and losers are based upon the dissemination of false and misleading information, that's where you have a right to bring a case against the people who disseminated the information. >> so in the previous cases, did you actually go to court or were there settlements? i'm wondering if you are open -- if your plaintiff is open to a settlement at this point. >> we are in the very earliest stages of the lawsuit. as you noted it's a lawsuit that was filed on behalf of an individual investor but we're seeking to prosecute it as a class action on behalf of many investors, all the investors who purchased in the ipo or who purchased during our class period which is november 4th, the date of the ipo, through march 30th, the date of groupon's announcements. we've already been contacted by several of our other large institutional investor clients who are interested in pursuing recoveries as well. >> but the guy that you mentioned in the lawsuit only lost $9,000. this is essentially
and that's not what the laws are there to ensure against. with the winners and losers are based upon the dissemination of false and misleading information, that's where you have a right to bring a case against the people who disseminated the information. >> so in the previous cases, did you actually go to court or were there settlements? i'm wondering if you are open -- if your plaintiff is open to a settlement at this point. >> we are in the very earliest stages of the lawsuit. as...
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Jul 13, 2012
07/12
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it's law that just makes sense. [ feedback ] attention, well, everyone. you can now try snapshot from progressive free for 30 days. just plug this into your car, and your good driving can save you up to 30%. you could even try it without switching your insurance. why not give it a shot? carry on. now you can test-drive snapshot before you switch. visit progressive.com today. [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... [ all ] i'm with scottrade. >>> this rally today is looking more and more solid by the minute. we're now up 160 points on the dow, only one member of the dow itself is in negative territory, hp, and everybody else higher led by j.p. morgan which continues to gain. it
it's law that just makes sense. [ feedback ] attention, well, everyone. you can now try snapshot from progressive free for 30 days. just plug this into your car, and your good driving can save you up to 30%. you could even try it without switching your insurance. why not give it a shot? carry on. now you can test-drive snapshot before you switch. visit progressive.com today. [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support...
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Feb 3, 2012
02/12
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you can't stay with your mother-in-law forever. trust me. >> i was going to say. sounds like personal ex-peer yenlgs. clorox posting earnings. good news for clorox there. >> a stock again that probably the money shifts away from but i think now duncan house has done a remarkable job there because remember proctor didn't say this. colgate didn't say this. i think clorox is on the mend. by the way, dupont, we left that out. dupont is a company that is uniquely levered to housing and autos even though that had not been their thing talking about health sciences. that stock heads higher too. >> right. in terms of the banks today are you willing to say, you know, bank of america, jp morgan, goldman sachs, if you are to believe that the jobs report is a true tell on the economy then you got to be in the financials now. >> wells fargo. wells fargo took a gigantic amount of share. they were able to do it. the government, we talked about too big to fail. wells fargo was able to accumulate a level of mortgage business in this country that says it goes 330. wells fargo next s
you can't stay with your mother-in-law forever. trust me. >> i was going to say. sounds like personal ex-peer yenlgs. clorox posting earnings. good news for clorox there. >> a stock again that probably the money shifts away from but i think now duncan house has done a remarkable job there because remember proctor didn't say this. colgate didn't say this. i think clorox is on the mend. by the way, dupont, we left that out. dupont is a company that is uniquely levered to housing and...
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Sep 10, 2012
09/12
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it's law that just makes sense. for the spender who needs a little help saving. for adding "& sons." for the dreamer, planning an early escape. for the mother of the bride. for whoever you are, for whatever you're trying to achieve, pnc has technology, guidance, and over 150 years of experience to help you get there. ♪ oh, hey alex. just picking up some, brochures, posters copies of my acceptance speech. great! it's always good to have a backup plan, in case i get hit by a meteor. wow, your hair looks great. didn't realize they did photoshop here. hey, good call on those mugs. can't let 'em see what you're drinking. you know, i'm glad we're both running a nice, clean race. no need to get nasty. here's your "honk if you had an affair with taylor" yard sign. looks good. [ male announcer ] fedex office. now save 50% on banners. you have to dig a little. fidelity's etf market tracker shows you the big picture on how different asset classes are performing, and it lets you go in for a closer look at areas within a class or sector that may be bucking a larger trend. i
it's law that just makes sense. for the spender who needs a little help saving. for adding "& sons." for the dreamer, planning an early escape. for the mother of the bride. for whoever you are, for whatever you're trying to achieve, pnc has technology, guidance, and over 150 years of experience to help you get there. ♪ oh, hey alex. just picking up some, brochures, posters copies of my acceptance speech. great! it's always good to have a backup plan, in case i get hit by a...
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Oct 29, 2012
10/12
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the reason for that is we have a law that prohibits our ships from moving -- other people's ships. the jones act. the other thing is, we have a gigantic amount of refining capacity in the midwest and don't have the pipes to get it to the east. their gasoline will probably go down. probably go down even more. our infrastructure is set up from before we were any good at producing energy. >> or distributing energy. >> yeah. we didn't think we had it. >>> still ahead this morning, co-founder and former ceo of costco jim sinegal is with us live. the election effect on this storm. effect from retailerretailers. how do you go about establishing a logistical plan? a lot more "squawk on the street" in just a minute. oh, hey mike. what are you up to? oh, just diagramming this accident with my state farm pocket agent app. you can also get a quote and pay your premium with this thing. i thought state farm didn't have all those apps? where did you hear that? the internet. and you believed it? yeah. they can't put anything on the internet that isn't true. where did you hear that? [ both ] the in
the reason for that is we have a law that prohibits our ships from moving -- other people's ships. the jones act. the other thing is, we have a gigantic amount of refining capacity in the midwest and don't have the pipes to get it to the east. their gasoline will probably go down. probably go down even more. our infrastructure is set up from before we were any good at producing energy. >> or distributing energy. >> yeah. we didn't think we had it. >>> still ahead this...
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Jul 19, 2012
07/12
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i made sure i went to the law school and cornered him. >> what law school? >> new york law school, just in the midst as everything was happening. and there were traders that were locked out. the cftc was putting more risk into the market by having these traders locked out. i basically told him, listen. first of all, there are certain things that are not at risk that you guys are saying that are. and we had a quick conversation about that. i also told him which part of mf to look at. >> when you say which part, did you give them specific names of specific people in risk management areas they should speak to? >> i gave them a name in risk management where they should actually look into because this was the time -- i told them don't bother with corzine. he's not going to tell you anything. these people are going to talk. >> did they speak to anybody specifically that you put them in touch with? >> no. from what i understand, they never called the risk department. >> if you were working at the cftc and you had gone out and you had been there, what would you have
i made sure i went to the law school and cornered him. >> what law school? >> new york law school, just in the midst as everything was happening. and there were traders that were locked out. the cftc was putting more risk into the market by having these traders locked out. i basically told him, listen. first of all, there are certain things that are not at risk that you guys are saying that are. and we had a quick conversation about that. i also told him which part of mf to look at....
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Sep 24, 2012
09/12
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isn't there an element of moore's law built into technology these days where the time in which a full cycle will take place will be much more compressed. so that time that we are into the smartphone cycle could actually be part e along than we think? >> yeah, that's why i say ten years rather than 20. i've heard that you have another five years in the smartphone cycle and then we'll switch over to wearable computing. apple's clearly been working on the technology for quite some time. we'll transition to that. but i think that's still at least five years away. >> nick, thanks for your time. >> thank you. >> that is the bull case there. he's laid out the bull case scenario. and that may be exactly what is in the price now. i think those expectations, that broader view of where we might be going on the rotation of the cycles. that could be it. that could be the point at which you sell. arguably. because there's no further catalyst. what was the further catalyst that he named in there. >> wearable computing -- as long as apple manages to continue making product that is people want -- >> s
isn't there an element of moore's law built into technology these days where the time in which a full cycle will take place will be much more compressed. so that time that we are into the smartphone cycle could actually be part e along than we think? >> yeah, that's why i say ten years rather than 20. i've heard that you have another five years in the smartphone cycle and then we'll switch over to wearable computing. apple's clearly been working on the technology for quite some time....
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Mar 2, 2012
03/12
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it is may have to do with the law former friend okatu. we're still waiting, still spending. shares of course were up nightly. intoic to you guys. >> the but anything down here this morning, the ipo of yelp, the last big one before facebook hits the street. the latest issue of "fortune" features a peek behind the scenes into the world of mark zuckerberg. good morning to you. >> hello. >> it still comes back to the same position, the cult of zuck, he's in full control and investors are foolish if they think he won't maximize here. >> we thought it would be a good idea to get into the management story, right in we wanted to know if this was about one guy or if there was a thorough understanding in the company it was a tightly disciplined place that could help innovation bubble up from anyone. >> answer? >> and these guys have been thinking about this for a long time. they have, you know, mark spelled it out in the investor letter. he called something out called the hacker way. we went behind the scenes to figure it out. we discovered a very disciplined approach, a whole team of
it is may have to do with the law former friend okatu. we're still waiting, still spending. shares of course were up nightly. intoic to you guys. >> the but anything down here this morning, the ipo of yelp, the last big one before facebook hits the street. the latest issue of "fortune" features a peek behind the scenes into the world of mark zuckerberg. good morning to you. >> hello. >> it still comes back to the same position, the cult of zuck, he's in full control...